Question
On October 5, 2XX1, Bill purchases a $4,000 T-note that matures on August 15, 2X14 (settlement occurs one day after purchase, so he receives actual
On October 5, 2XX1, Bill purchases a $4,000 T-note that matures on August 15, 2X14 (settlement occurs one day after purchase, so he receives actual ownership of the bond on October 6, 2XX1). The coupon rate on the T-note is 7.966 percent and the current price quoted on the bond is 102 percent of face. The last coupon payment occurred 99 days before settlement, and the total days between interest payment dates is 182 days. Calculate the dirty price of this T-note. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
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